Up & down the job rollercoaster: Highs for aviation & pharma, lows for IT

The game flipped in the second half of 2022, and in 2023, it has decisively turned in the favour of employers - more talent is now chasing fewer active IT jobs

One has to be part of the “TCS waiting for offer letter” group on WhatsApp to gauge the mood of hiring in the information technology (IT) sector. This is a group of experienced software developers who the company interviewed but did not give offer letters to.

The last two years have seen the pendulum swing from an employees’ market to an employers’ market in India’s IT industry. Till the first half of calendar 2022, employees were the stars and job-seekers were spoilt for choice. Salaries soared during this period, attrition rates were high and joining ratios slipped. The